The OECD helps governments to ensure responsiveness in key economic areas. Membership in the group will increase investment of developed countries in Israel and raise Israel's credit rating, according to Manufacturers Association president Shraga Brosh. He explained that a higher credit would lower the interest rates Israeli companies pay for credit.
Governor of the Bank of Israel Stanley Fischer, Finance Minister Ehud Olmert, and Finance Ministry Director General Dr. Joseph Bachar are promoting OECD membership for Israel.
As a member of the OECD, Israel also would have to adapt its economic policies according to the group's standards, Brosh said. OECD countries have pressured Israel to fight against criminals who have used Israel as a convenient location for laundering black market money.
The economic organization of 30 developed countries has advised Israel to dismantle monopolies and diminish government intervention in business activity.
The OECD includes the three North American countries, Japan, Switzerland, Australia, New Zealand, Norway, Turkey, South Korea and most of the European Union countries.
Governor of the Bank of Israel Stanley Fischer, Finance Minister Ehud Olmert, and Finance Ministry Director General Dr. Joseph Bachar are promoting OECD membership for Israel.
As a member of the OECD, Israel also would have to adapt its economic policies according to the group's standards, Brosh said. OECD countries have pressured Israel to fight against criminals who have used Israel as a convenient location for laundering black market money.
The economic organization of 30 developed countries has advised Israel to dismantle monopolies and diminish government intervention in business activity.
The OECD includes the three North American countries, Japan, Switzerland, Australia, New Zealand, Norway, Turkey, South Korea and most of the European Union countries.